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cliff looks like it's going to be resolved. that's what the vix is saying, and the fed's actions are not going to create volatility, even additional futures contracts in the vix are not higher in the last several weeks here. we did have a spike in bond yields yesterday. some good very excited about the idea that perhaps we were going to have some inflation issues, but, you see, inflation portfolios that spiked yesterday, didn't do anything today. the gold issue is down and the pimco tips, didn't do anything today and even funds, etfs, maria, that short treasuries like that tbt, that bottom one there, that had big volume yesterday and today but not a lot of price action. maria, back to you. >> up next, no impact. someone here says the federal reserve's unprecedented action to keep the economy on track won't make a lick of a difference in avoiding the fiscal cliff. the debate on the fed, the cliff and the economy coming up and represent schakowski says raising the eligibility age for medicare is a non-starter. we'll talk about it and dan niles, ahead of the curve? saw facebook's me
're right. what about the fed, harry? were you pleased or unhappy with the fed action this week? what do we have going now, qe4? >> it's absolutely desperate that you have to keep upping the ante, and showing how weak the economy is. we're still in critical care, on life support, and we'd be in big trouble without $1 trillion in stimulus. in europe the stimulus stopped working in 2012. in 2013 the stimulus is just not going to make an impact. these more wealthy people that will be spending will be hit by more taxes and they will slow down and i think that you're going to see the economy be much worse in 2013, but, you know, we may get more stimulus first in china and europe so i think it's going to be see-saw first half of 2013 and then i think the markets will head down seriously in the second half of 2013. >> but, again, to his point, the wealthy includes savers, both corporate and individuals, grandma and grand past the fed is killing them. >> killing them. >> so if we don't reball the equation, i don't think we'll make any progress. >> very, very important insights. gentlemen, appreciat
in the work earlier in the week that the company hired a merchandising ex action from below. >>> up next, find out who the winners and losers are. and then, in case you missed my interview with democratic senator ben carden yesterday, what are you going to give on, senator? to get this done? >> well, we want to balance the pros. >> we know you -- everybody is saying that over and over again. why don't you explain to our audience what that means, sir. >> first, we've agreed to $1 trillion of domestic spending cuts. that's already been done. >> that's done. we're talking about the here and now, not what's done. >> he wouldn't tell us how he plans to get a deal done. coming up, we will hear from the other side of the aisle. hopefully representative mulvaney will rise above. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any comput
that that would work. >> it's a -- it's better than no action, and i appreciate the position he is in. i don't think either side, but honestly, i personally believe the administration has been less responsible here. i don't really know what they are thinking. over the next four year, unless something very significant is done first to grow this economy at anything like a heretofore normal rate, anything like a kind of rate that we're supposed to have after a deep recession, and unless the first step or two is taken, not to change the entitlements today but to begin to moderate their demands in the out years, i -- i see no reason for any jubilation, cliff or no cliff. >> all right. we will leave it there. governor, we know that you are leaving office on january 14th to become the president of purdue university. hope to see you soon. best of luck. >> love to be back. >> see you soon, governor mitch daniels of indiana. my exclusive interview with the head of conagra and bon moshe and what he thinks about the fiscal cliff and the house gearing up to vote on speaker boehner's plan "b" action. we'l
mobile app. >>> the first class action lawsuit has been filed as a result of instagram's proposed terms of service change that would have allowed the social media company to sell users' photos without permission for advertising and the idea created a big backlash that forced the company to apologize and make about an about face. >> if instagram is not going forward with these plans, why the lawsuit? taking us through this is roy choy, managing editor at technobuffalo. that's the question i've had all along. they backtracked big-time when there was this backlash and yet we still have a class action lawsuit being brought. does it have any merit, do you think? >> i think it has absolutely no merit. i think it's a frivolous lawsuit. look for a bunch of attorneys that are looking to get their name out there in privacy law. >> do you think it's going to be dropped then? >> i definitely do think so. i think the only change that is really substantial at this moment is -- you can't take instagram to a court of law outside of a class action lawsuit. they have instituted a -- an arbitration system
going forward. if you look at the month i think we'll see muted action in response to what's happening in terms of the fiscal cliff. there's enough arguments to believe it will sustain at these levels but i think we'll pick up serious action in the last ten days of the month and we could see significant volume come down here. >> that's what you want to see and that's what you're expecting end of the month there. let's talk about allocating capital. what do i do in the face of uncertainty, fiscal cliff, global, how do you want to allocate capital? >> we've been advocating clients stay diversified and the clear recollection that central banks had desire to increase wealth effect among stock and bond holders. have you to be careful of long-only actions. we had implemented hedge funds into our investors' portfolios, looking for nondirectional strategies like long short equity, currencies, assets that aren't as directly influenced or don't have as much beta in them relative to typical equity and bond portfolio. >> great point. i guess, you know what, if i had to pick who is the face of 2012
is on. i think they going to use more words than action. >> they've been using that very effectively. and it actually moves markets. just the language. >> he didn't buy one bond. he said three words and spanish and italian yields drops three basis points. >> what were the three words? >> whatever it takes. >> that's good. markets like whatever it takes, i guess. rick santelli, loeet's talk job. that's tomorrow. some noise in this report. early thanksgiving, hurricane sandy. is this rally at the end of the day having anything to do with any anticipation of the jobs report? what are you looking for? >> no, i don't think so. we're looking for almost exactly half. we had 171,000. the consensus is 85 to 90,000. we're looking at half. i understand that, you know, superstorm san difs a horrible event, and i am sure it's going to take some jobs out, but it's going to also be a bit of an excusetrending well. i'll give you an example. wells fargo gallup does a small survey. on hiring, small businesses dropped to the lowest level of opt miimism in four years. it doesn't matter what ben bernanke
of their actions in the last ten days have just exacerbated those safe assets by removing some from the system. other things hitting at the system, that's going exacerbate the shortage of safe assets and keep yields low. anywhere where you have an income-producing opportunity out there, that's where investors need to keep their assets. don't worry about recession or acceleration of growth. >> does the tax story get in the way, ed? what's your term of taking tax rates higher? >> tax rates are going higher. i personally think that's already priced in. where is the best overall total return possibly. i think that's going to be in the stock market. and i think this year is a great example. we're going to be up over 15% for the year in total return for s&p at the end of the day. that's much better than any place in the fixed income market. i think that's the story next year. people take on more risk as their fear gets further away from the fiscal crisis. >> we appreciate your time tonight, gentlemen. thanks very much, all of you. >>> we've got a big upgrade on the financials. one of the reasons we
on what's happening? >> i'm a little more cautious. i totally agree with ralph that the market action today is terrific this year on bad news. i think the next six months are going to be very tricky. i think the fiscal cliff uncertainty is going to continue t actually. so i'm a little more bearish in the near term. then i think it's a sell-off, if there is one, that should be bought aggressively for a rally in the end of 2013 that would be the beginning of a new bull market. >> when you say a rally towards the end of next year, do you think over the course of 2013 it's going to end higher? we're going to be higher than where we are right now? >> yeah, i mean, i think ultimately 2013 ends up higher at the end. i think we're going to go -- we're going to test some lower resistance in the first six, seven months of the year. we have so much uncertainty in washington. we do have slowing economies in europe and in the u.s. >> right. david, what do you say right now? break the tie for us. >> break the tie. in the near term, there's an epic tug of war between extremely aggressive monetary ea
. sectors not having a very good day. one group that's ignoring all of this action, that's the airline stocks, a new high for the airline index, maria, and that's been a big market mover recently on better metrics. two stocks on the downside. general electric. held their 2013 outlook this week and maybe a little sell on the news. it came in pretty much in line and moody's placed alcoa's credit rating on a review for a possible downgrade for lower aluminum prices. maria, back to you. >> the weekend market pinned to a bad day in the fiscal cliff negotiations. john harwood at the white house who had a front row seat in all of this. what can you tell us. >> reporter: as bob pisani just mentioned the discussion today is about that plan "b" that speaker boehner is offering to only raise taxes on million dollar incomes and do nothing on spending cuts until next year. the president came out into the white house briefing room said, and after talking about gun control made the argument in response to questions that they have narrowed their differences too much to walk away from negotiations now.
averages in six weeks on perceived lack of action and lack of progress from the white house. let's get back to eamon javers who is in front of the white house, and i believe you have a little bit more information us about the fiscal cliff meeting that just broke up between the president and congressional leaders and that there were some disappointed reporters, yourself included, that they didn't speak to you. >> reporter: that's right, mabdy. we always want that exclusive interview or even a non-exclusive interview, but a little bit more information here. the white house is telling -- the white house press pool was told the meeting ended at 4:15 p.m. so that puts the meeting at just over an hour all told, and i'm told that we just saw senator mcconnell, the republican leader in the senate leaving the white house here, so that gives us three out of the four congressional leaders that we've now seen going out of building. unless i'm missing senator reid here. it looks like he might still be in the building at this point. >> the republicans have left the building pretty much. >> reporter: that
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. what did you make, stephanie, of today's market action? you're the trader and follow the short-term swings. what was the message of the market do you think today? >> the message is the market is nothing is really going to change. interest rates will be low for an extended period of time. the fact that they tied the rates to unemployment, a little bit of a twist to the story, but it means that rates stay low. i think that the housing theme continues. i think that financials continue to work because even though you have a flat yield curve they are a beneficiary of the housing cycle, and away from all of this you focus on what happens internationally and china continues to recover. europe looks like it's stabilizing and we didn't change our strategy based on the news, just a little bit more of what you're doing. >> randy, anything change for you? >> no, not really. what we're watching is the parallels that occur now, where we stood with the fiscal cliff and where we stood in 1999 with the y2k situation. we borrowed a lot of growth in 1999 from 2000, and that led us to a recession.
with your guests. i like the action particularly in the last couple months. and allowed the southeast asian markets. we've been investing in places like indonesia and mexico. those are the exotic locations. but you've got to get out of sus dollars. >> peter, why would you invest in the country whose terms of trades are getting worse rather than in the united states with a depreciating dollar and terms of trade are improving? >> a weakening dollar doesn't improve your terms of trade. >> sure it does. that's exactly what it does. >> no it doesn't. >> it helps exports. >> steve, the dollar has been depreciated -- >> it costs less to make stuff here. it's not been depreciating for decades. >> yes it has. where you been? >> i been here. >> do you see a significant depreciation of the u.s. dollar? >> i don't. i think what's interesting is that if you weren't paying attention, the dollar is the world's reserve currency. all the things that have gone wrong here in the united states have put people into what? into dollars. into dollar-based assets. the ability to fund the deficit goes on without muc
Search Results 0 to 13 of about 14

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